The UK House of Lords is in dire need of reform. The Houses of Parliament’s second chamber is largely filled with government appointees, and a few hereditary nobles. None is accountable to voters. This week, there were allegations that some peers might be prepared to sell their services to lobby groups.

Change is needed and sensible politicians are drawing up sensible measures to tackle the problem. Perhaps, however, it is time for a truly radical approach, which shows Britain remains in the vanguard of free market practices.